FISCAL FREEZE

12.16.12

Boehner Proposes Debt Ceiling Lift

J. Scott Applewhite/AP

As the dreaded fiscal cliff date draws nearer, lawmakers are pushing compromises. On Friday, House Speaker John Boehner offered to push the fight over the federal debt limit off for a year, according to sources familiar with the talks. This is seen as a concession for Republicans, who planned to use the threat of default as leverage for getting more spending cuts out of Obama. Boehner is also proposing to raise taxes for millionaires, but the White House has rejected the offer, saying the amount raised is not significant enough. Either way, progress is progress and we could be inching closer to a deal.